Arizona K-1 (Form 165) reports a pass-through entity's share of income, deductions, and state adjustments specifically for Arizona filing, which can include details on ordinary income, rental income, interest, dividends, and other items relevant to Arizona tax law. The inherent variations in layout and extensive footnotes across different Arizona K-1 (Form 165) documents, often differing by preparer and software used, can significantly impede the review process for tax professionals. Abacus addresses this by leveraging advanced OCR (Optical Character Recognition) and AI (Artificial Intelligence) to meticulously extract all relevant fields from Arizona K-1 (Form 165) PDFs. This extracted data is then normalized into standardized Excel workbooks, including precise handling of federal and state add-backs specific to Arizona, various state tax credits, and detailed ownership information. This comprehensive normalization ensures a clean, accurate, and efficient import directly into leading tax preparation software such as CCH Axcess or GoSystem, significantly reducing manual data entry errors and accelerating tax compliance workflows.
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